Wall Street is showing few signs so far that it is fearing the
financial panic it has been predicting should the government default on
its debt.

The fiscal impasse in Washington continued to weigh on stock prices
on Monday, as the market's "fear gauge," the C.B.O.E. volatility index,
jumped 15.95 percent to its highest level since June. Nonetheless, the
market reaction to date has been muted compared with past crises.